TEHRAN, Iran, October 7. Iran has assigned 50 trillion rials (about $11 billion) for the renovation of machinery in industrial factories, said the Minister of Industries Mine and Trade Reza Fatemi, Trend reports citing IRNA.
The following credit was allocated by the cooperation of the Central Bank of Iran (CBI) for the renovation of industrial machinery across the country and to boost production lines, he said.
He underlined the lack of equal investment in the country’s industrial sector and the challenges of industrial factories in small cities.
The government's priority is to complete unfinished industrial plans and seek to issue permits for investment in the industrial sector to create jobs, Fatemi noted.
According to the minister, Iran’s export has significant growth in the first five months of the current Iranian year (started March 21, 2022) indicating a 24 percent increase compared to last year.